Advanced Micro Devices (NASDAQ:AMD) Price Target Raised to $300.00 at Rosenblatt Securities

Advanced Micro Devices (NASDAQ:AMD) had its target price lifted by research analysts at Rosenblatt Securities from $250.00 to $300.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Rosenblatt Securities’ target price suggests a potential upside of 19.98% from the company’s previous close.

A number of other research firms also recently weighed in on AMD. Wells Fargo & Company boosted their target price on shares of Advanced Micro Devices from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Wolfe Research set a $300.00 target price on shares of Advanced Micro Devices and gave the stock an “outperform” rating in a report on Tuesday, October 14th. The Goldman Sachs Group boosted their target price on shares of Advanced Micro Devices from $150.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Piper Sandler boosted their target price on shares of Advanced Micro Devices from $240.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Raymond James Financial boosted their target price on shares of Advanced Micro Devices from $120.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $255.09.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD opened at $250.05 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 2.49. The company has a market cap of $405.79 billion, a P/E ratio of 143.71, a P/E/G ratio of 2.42 and a beta of 1.90. The firm’s fifty day moving average is $194.76 and its two-hundred day moving average is $156.06. Advanced Micro Devices has a 52-week low of $76.48 and a 52-week high of $267.08.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%.The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up 31.7% on a year-over-year basis. As a group, analysts anticipate that Advanced Micro Devices will post 3.87 EPS for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $165.01, for a total transaction of $371,272.50. Following the completion of the transaction, the executive vice president owned 311,598 shares in the company, valued at $51,416,785.98. The trade was a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Paul Darren Grasby sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the transaction, the executive vice president owned 125,505 shares of the company’s stock, valued at approximately $21,738,721.05. This trade represents a 7.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 274,118 shares of company stock worth $46,180,719. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Advanced Micro Devices by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 154,648,859 shares of the semiconductor manufacturer’s stock worth $21,944,673,000 after acquiring an additional 2,281,508 shares in the last quarter. State Street Corp increased its stake in Advanced Micro Devices by 0.8% during the 2nd quarter. State Street Corp now owns 72,069,259 shares of the semiconductor manufacturer’s stock valued at $10,226,628,000 after purchasing an additional 581,330 shares in the last quarter. Geode Capital Management LLC increased its stake in Advanced Micro Devices by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 36,690,685 shares of the semiconductor manufacturer’s stock valued at $5,181,556,000 after purchasing an additional 514,445 shares in the last quarter. Norges Bank acquired a new position in Advanced Micro Devices during the 2nd quarter valued at approximately $3,094,662,000. Finally, Amundi increased its stake in Advanced Micro Devices by 8.0% during the 1st quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer’s stock valued at $1,677,014,000 after purchasing an additional 1,319,064 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.